SABB Takaful pens $4.53mln deal with Al Olayan Group
SABB Takaful Company inked a SAR 17.31 million contract with Al Olayan Group on 30 September 2022 for general insurance programmes. The value of the contract represents more than 1% of the Saudi listed firm’s revenues in 2021, according to a recent bourse filing. SABB Takaful noted that the deal will reflect on its […]
Albilad Capital to distribute dividends for Sukuk Fund’s unitholders
Albilad Capital announced cash dividends worth SAR 409,146 to the unitholders of Albilad Saudi Sovereign Sukuk ETF for September 2022, according to a bourse disclosure. The company will pay out SAR 0.029 per unit, which represents 0.33% of the net assets value as of 2 October 2022, for 14.10 million eligible units. The […]
Saudi: Bahri partners with GASCO to establish logistics firm
National Shipping Company of Saudi Arabia (Bahri) signed a non-binding memorandum of understanding (MoU) with National Gas and Industrialization Company (GASCO) on 3 October 2022 to set up a new business. Under the 12-month agreement, the two parties will team up to develop a company that operates in land transportation and logistics services, […]
Saudi’s Northern Region Cement announces $12mln dividends for H1-22
The board of Northern Region Cement Company greenlighted cash dividends distribution worth SAR 45 million for the first half (H1) of 2022, according to a bourse filing. The Tadawul-listed firm will pay out a dividend of SAR 0.25 per share, representing 2.50% of the share nominal value, for 180 million eligible shares. The eligibility […]
Bahrain’s Investcorp acquires major stake in NourNet
Bahrain – An entity managed by Investcorp has acquired a majority stake in Nour Internet for Communication and Information Technology Company (NourNet), one of Saudi Arabia’s largest pure-play providers of connectivity and information and communication technology (ICT) services. NourNet was established in 1998 in Saudi Arabia as a wholly-owned subsidiary of Nour Communications. Begun as […]
MAWANI, Tabadul sign MoU to develop new Saudi ports management systems
The Saudi Ports Authority (MAWANI) and Saudi Company for Exchanging Digital Information (Tabadul) today signed a memorandum of understanding (MoU) with the aim of developing new Saudi ports management systems as part of their endeavors to lead the change of the future of commercial movement and guarantee competitiveness and realizing sustainable growth at […]
Saudi Arabia, UK explore increased trade, investment opportunities
The Lord Mayor of the City of London Alderman Vincent Keaveny and Saudi Minister of Investment Khalid Al-Falih discussed the opportunities for increased trade and investment between the two countries in light of the ongoing UK-GCC free trade negotiations. “As part of the Saudi Vision 2030 to diversify the country’s economy, London’s expertise opens […]
Marafiq gears up for landmark $1.2bln IPO, Saudi bourse listing
The Power and Water Utility Company for Jubail and Yanbu (Marafiq) has announced plans to go ahead with its Initial Public Offering (IPO) and listing of its shares on the Saudi bourse Tadawul. The Marafiq move comes following the recent approval from Capital Market Authority (CMA) it received for the listing of 73.1 million ordinary […]
Riyadh to host first Saudi Games from Oct. 27
Under the patronage of Custodian of the Two Holy Mosques King Salman, Riyadh city is set to host from Oct. 27 to Nov. 7, 2022, the first Saudi Games. King Fahd International Stadium is set to host the event in which more than 6,000 female and male athletes and 2,000 technical and administrative supervisors […]
Saudi Arabia’s oil production increased by 20% in 8 months
Saudi Arabia’s average oil production increased since the beginning of 2022 until the end of August by 20 percent, a government document seen by Saudi Gazette showed. The Kingdom’s production reached around 10.5 million barrels per day, higher by 1.8 million barrels per day compared to the same period last year. The increase […]